Company report for EECS 441

1. By: Liang Liu (liuliang)

2. Problem where I live …
• too expensive to take a taxi/uber
• very time-consuming to walk
• sad

3. Product
• Station-free bicycle sharing
• Millions of bicycles with smart lock
• Mobile app to locate/unlock bicycles

4. Product (cont.)

5. Business Model
~30 USD deposit + ~0.15 USD/hour

6. Finance

7. History
2014
Ofo was founded as a company
in business of bike touring
June 2015
Bike sharing service was launched
at Peking University
September 2016
Bike sharing service was open to
public in China
December 2016
Bike sharing service was launched
In US, UK and Singapore
Dai Wei, Founder

8. Secret Sauce …
• Great business idea
• Large size (10 million bikes in 180 cities across 15 countries)
• Strategy to keep growth momentum
• Ease of use

9. Competition (really intense)
51.20%
40.10%
8.70%
Market Share in China
Ofo
Mobike
Others
• 20+ bicycle sharing companies in
China
• Small leading margin
• Similar technology

10. Competition (really intense)
Ofo Mobike UBIKE XiaoMing
Founded Year 2014 2015 2016 2016
Dock Station Free Yes Yes Yes Yes
Deposit $30/ $0 with high
credit score
$45 $45 $30
Hourly Charge $0.15 $0.30 $0.15 $0.15
Founding Rounds Series E Series D Series A+ Series B

11. Future
Key Puzzles:
Technology Innovation
Government Relation

12. Challenge

13. Challenge (cont.)

14. US Market
Cities already in Cities to roll in
Washington D.C.
Austin, TX
Revere, MA
Chelsea, MA